Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sets New 1-Year High – Here’s Why

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.47 and last traded at $28.46, with a volume of 51193 shares trading hands. The stock had previously closed at $28.26.

Van Eck Merk Gold Trust Price Performance

The company has a market capitalization of $1.44 billion, a PE ratio of 6.97 and a beta of 0.20. The company has a 50 day moving average of $27.30 and a two-hundred day moving average of $26.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northstar Financial Companies Inc. bought a new position in Van Eck Merk Gold Trust in the fourth quarter valued at about $426,000. Dogwood Wealth Management LLC grew its position in shares of Van Eck Merk Gold Trust by 11.4% during the fourth quarter. Dogwood Wealth Management LLC now owns 199,509 shares of the company’s stock worth $5,048,000 after purchasing an additional 20,395 shares in the last quarter. Shufro Rose & Co. LLC grew its position in shares of Van Eck Merk Gold Trust by 20.0% during the fourth quarter. Shufro Rose & Co. LLC now owns 27,836 shares of the company’s stock worth $704,000 after purchasing an additional 4,633 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Van Eck Merk Gold Trust by 54.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,734 shares of the company’s stock worth $145,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Van Eck Merk Gold Trust by 3.5% during the 4th quarter. Cetera Investment Advisers now owns 1,608,488 shares of the company’s stock valued at $40,695,000 after buying an additional 54,445 shares in the last quarter.

About Van Eck Merk Gold Trust

The VanEck Merk Gold Trust (OUNZ) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses, using gold bars and coins held in London vaults. Investors can redeem their shares for gold in increments of 1 troy oz. OUNZ was launched on May 16, 2014 and is managed by VanEck.